A former manager at Bernard
Madoff's firm was sentenced to six years in prison today in New York for helping the convicted fraudster carry out a Ponzi scheme
that caused investors to lose billions of dollars.

Annette Bongiorno, who worked for Madoff from the 1960s
until the firm's collapse in 2008, was the second of five former
employees to be sentenced after being convicted in March of
securities fraud, conspiracy and other charges in a Manhattan
federal court.

U.S. District Judge Laura Taylor Swain also ordered
Bongiorno, 66, to forfeit $155 billion, a symbolic amount for
which she and the other defendants who worked at Bernard L.
Madoff Investment Securities LLC would be jointly responsible.

Annette Bongiorno, a former employee at Bernard L. Madoff Investment Securities LLC, pictured in New York in March

The sentencing came a day after former Madoff operations
director Daniel Bonventre was sentenced to 10 years in
prison.

Swain said Bongiorno, who was indicted in 2010, was not a
'coldly calculating participant' in her boss's Ponzi scheme, but
willfully blinded herself to the 'corrupt illogicality' of what
was going on.

'She could and should have looked at what was in front of
her,' the judge said.

Prosecutors accused Bongiorno, Bonventre, former portfolio
manager Joann Crupi and former computer programmers Jerome
O'Hara and George Perez of helping Madoff hide his fraud from
auditors, government regulators and the public through fake
documents and bogus transactions.

Bernie Madoff (pictured in 2009) is serving a 150-year prison term after pleading guilty

The defendants have said Madoff deceived them into believing
his investment advisory business was legitimate. They are
expected to appeal their convictions.

Lawyers for Bongiorno had sought a sentence of eight to 10
years in prison.

O'Hara is expected to be sentenced later on Tuesday, Perez
on Wednesday and Crupi next Monday.

Madoff is serving a 150-year prison term after pleading
guilty in 2009 to running a scheme that cost investors more than
an estimated $17 billion in principal.

Fifteen people have been convicted at trial or have pleaded
guilty in connection with Madoff's fraud.